GBP/JPY: British Pound bounced at 144.730 and attempted to head back up at 145.000

Denis Joeli Fatiaki Independent Analyst

GBP/JPY: British Pound bounced at 144.730 and attempted to head back up at 145.000

What is going on now with GBP/JPY?

GBP/JPY: The British Pound failed at its 500 EMA at 145.850 in yesterdays trades and fell to 145.350 support. The pair continued its down run in the 60 minutes price chart during the overnight session and managed to find support at 144.475.

Our forecast

GBP/JPY: The Pound bounced at 144.730 support and drove prices up to 145.000 in today's session. The pair has been floating around 145.000 resistance in the 60 minutes price chart for the past 12 hours and needed to break this barrier to continue to 145.350. The Pound could fall to 144.730 and 144.475 if it fails to continue at 145.000

Support/ Short-144.730, 144.475, and 144.150

Resistance/ Long - 145.000, 145.350, and 145.850

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Chart 1: The short-term view of the GBP/JPY price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the GBP/JPY price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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